Buy now pay later, who owns the goods?
- Thread starter Argyll Andy
- Start date
Probably bought on credit via stolen ID. Easy money if you know what you’re doing.
Pondrew said:
+2
If you buy anything that has credit owing on it then the finance company can recover the goods. The person with the credit does not have legal title until he has paid the credit company. Same applies to cars.
The law is likely different there than out here in the colonies, but there is such a thing as a conditional sale where title transfers subject to certain conditions - very common on purchases of large items over time with scheduled payments. Here, if you buy a car that was purchased that way, it is noted on title ad you either have to qualify and assume payments or require the balance owing to be paid out so you can receive good title.
Might want to check on whether you have the equivalent of our Conditional Sales Act. If so you'd have to search a registry to see if the sale was registered and ensure that the amount owing was paid out on sale.
Might want to check on whether you have the equivalent of our Conditional Sales Act. If so you'd have to search a registry to see if the sale was registered and ensure that the amount owing was paid out on sale.
If the watch is stolen or been obtained by unlawful means, and you either suspect it was obtained that way or you paid such a low price you should have suspected then you are leaving yourself wide open for handling stolen goods. The mere fact you are asking questions on here show that may be the case.
Have you considered that whilst the watch shown and paperwork may be genuine, the watch they send you may not be?
Walk away, go for the same watch from a reputable supplier and you go for a BNPL deal or interest free credit option.
Have you considered that whilst the watch shown and paperwork may be genuine, the watch they send you may not be?
Walk away, go for the same watch from a reputable supplier and you go for a BNPL deal or interest free credit option.
Indeed, if it is stolen that's another bag of worms. "Nemo dat quod non habet" - you can't give what you don't have, and if you have no legal title to something the real owner can track you down and take it back again without any compensation.
Worth reading this - a car stolen, restored by an innocent subsequent buyer ad repossessed decades later.
https://www.usatoday.com/story/news/nation/2014/02/20/stolen-1957-chevy-returned/5650155/
Worth reading this - a car stolen, restored by an innocent subsequent buyer ad repossessed decades later.
https://www.usatoday.com/story/news/nation/2014/02/20/stolen-1957-chevy-returned/5650155/
sp3ctre said:
Which was what my original post was about
For clarity it wasn’t a “too good to be true” deal. A Breitling with an rrp of £5,450 up for sale as 2nd hand @ £4,650.
In my opinion the original purchaser was at it one way or another. IMO either needing quick cash by instantly selling the goods to get a reasonable bit of cash in their hand and repay over the interest free period taking the loss, which is much less than a payday loan, or not pay anything back at all.
As for the watch and whether it was genuine or whether I would get the correct one, the new authentication system that eBay are insisting on for watches over a certain value tales that away completely.
As I mentioned on a subsequent post the watch has been bought by a (high street) pawnbroker who will resell the watch with the next buyer having no knowledge of its history. The pawnbroker is obviously happy with the watch and even though bought by trade it still has to go through the authentication process.
Argyll Andy said:
Im sure as with garages and cars they will have the ability to check for outstanding finance on a product they are buying in order to avoid someone flipping the finance. If the dude had finance open on it I suspect the pawnshop paid the finance rather than the dude then gave him anything that was left (just like with a car on finance)
This whole thing was fishy and not worth the hassle imo
Flyingfifer said:
That’s what I was trying to ascertain if the goods were registered/traceable against the finance but with all investigations it seems they’re not like cars etc and there isn’t any such things for watches. The only thing I could find for watches the lost/stolen register. As PVR has said a few times it’s unsecured credit that’s taken so if defaulted upon its recovery of funds, not goods they’ll go after. That’s what my original question was.
I don’t think there’s any way the pawnbrokers will have cleared the finance. The outstanding finance was way over what they were paying for the watch and they wouldn’t payoff part of it and leave a balance outstanding. They’ll pay the guy and resell the watch, the finance appears to be solely his issue.
I know it seems fishy but if you have a look on eBay etc,(including well known and respected watch resellers) there’s literally hundreds, if not thousands of days/months/ old unworn/boxed/full papers watches for sale. This does not seem to unusual in that field.
I could very likely go out and buy the exact same watch from that pawnbroker over the next few weeks and the credit status will very likely be the exact same as if I’d bought it from the individual, just with another £4-600 on top for their profit
This is partly why I dont use ebay.
What if the finance doesnt get paid so they demand the return of the goods, they arent returned so the finance report to police as stolen (which effectively they are)?
Again this is like going out and looking for an STI riddled hoore because shes cheaper and trying to figure out how you can pump her without getting the plague. Just get a clean hoore!
What if the finance doesnt get paid so they demand the return of the goods, they arent returned so the finance report to police as stolen (which effectively they are)?
Again this is like going out and looking for an STI riddled hoore because shes cheaper and trying to figure out how you can pump her without getting the plague. Just get a clean hoore!
Flyingfifer said:This is partly why I dont use ebay.
What if the finance doesnt get paid so they demand the return of the goods, they arent returned so the finance report to police as stolen (which effectively they are)?
Again this is like going out and looking for an STI riddled hoore because shes cheaper and trying to figure out how you can pump her without getting the plague. Just get a clean hoore!
You’ve just summed up you whole sex life in one post
Argyll Andy said:You’ve just summed up you whole sex life in one post
Yer patter is stale min, about as stale as your sex life
Scubaregs said:
Flyingfifer said:Argyll Andy said:You’ve just summed up you whole sex life in one post
Yer patter is stale min, about as stale as your sex life
Oh don’t you worry about me on that front Wullie, many other things may be stale but not that. My actress looks after me well :wink: